The properties in the gross estate of PANCHO, a non-resident alien 

reported his
gross estate with their fair market values as follows:

House & lot, family home in Las Pinas City 

Bank deposit in foreign branch of a domestic bank
Bank deposit Makati branch of a foreign bank 
Shares of stock issued by domestic corporation, certificates kept in Canada 
Franchise exercised in Manila 
Receivable, debtor in Mindanao

REQUIRED:
1. How much property shall be excluded from gross estate assuming there is reciprocity ?

Bank deposit in foreign branch of a domestic bank

Bank deposit Makati branch of a foreign bank 
Shares of stock issued by domestic corporation, certificates kept in Canada 
Franchise exercised in Manila 
Receivable, debtor in Mindanao
Total Exclusions from Gross Estate

2. Assuming there is NO reciprocity, what is the amount of the decedent’s total gross estate ?

House & lot, family home in Las Pinas City 

Bank deposit Makati branch of a foreign bank 
Shares of stock issued by domestic corporation, certificates kept in Canada 
Franchise exercised in Manila 
Receivable, debtor in Mindanao
Total Inclusions from Gross Estate

Honor Pledge for Graded Assignments

“I affirm that I have not given or received any unauthorized help on this assignment, and that this work is m
 1,800,000
750,000
400,000
900,000
850,000
280,000

750,000
400,000
900,000
850,000
280,000
3,180,000

1,800,000
400,000
900,000
850,000
280,000
4,230,000

that this work is my own.”